President Dr Arif Alvi has stressed the need to maximise bilateral trade with China, which presently stands at $27.8 billion, saying it would mutually benefit the two countries. In a conversation with the outgoing Chinese Ambassador Nong Rong at the President's House, he stated that the China-Pakistan Economic Corridor (CPEC) has completed 19 projects, 28 are being built, and 41 are being planned. According to President Alvi, the Belt and Road Initiative's transformational flagship project, CPEC, has the ability to serve as the axis of regional connectivity and peace. He stated that the swift completion of four major cooperation clusters—the Gwadar Port and its ancillary projects, energy initiatives, transportation infrastructure, and industrial cooperation, including the creation of special economic zones, would alter the outlook for trade, business, and investment in the country.

The president said that given the changes taking place in the global arena, the CPEC project has to advance even more quickly in order for products to begin regularly travelling from South China to the Gwadar Port and onward. He continued, the second phase of CPEC should be pursued quickly to promote agriculture, innovation, and the information technology sector, industrial cooperation, livelihood generation and poverty alleviation, automobile, textile, and leather manufacturing; and the shifting of Chinese industries to Pakistan wherever possible. The president mentioned that the data for the first 11 months of 2021 show that bilateral trade reached a record high of $27.8 billion, registering an increase of 60% over the corresponding period of 2020.

He stated that the signing of the China-Pakistan Free Trade Agreement in January 2020 has further liberalised the trade, resulting in a significant expansion in trade volumes. He noted that Pakistan's exports, which totalled $3.6 billion, saw a 68% growth over the previous year. The president praised the two countries' all-encompassing collaboration in everything from defence to socioeconomic growth. He expressed his gratitude to China for providing Pakistan with generous financial support, which helped the country effectively manage its financial situation and during the super floods caused by global warming last year, which helped lessen the suffering of the flood victims. He said that the Chinese grant to the presidency will be put to use in the creation of a digital platform for outreach to those who are under stress or dealing with mental health concerns.

He said that the first lady during her impending trip to the United Kingdom will contact British-based Pakistani doctors and psychiatrists to enlist their assistance in helping those in need of online counselling and advice for mental health issues. The president expressed the desire that Pakistan-China ties would significantly improve in the upcoming Year of the Rabbit. He thanked the outgoing ambassador for representing China according to the highest standards of Chinese diplomacy with dignity and grace and wished him well in his further career endeavours.

Credit : Independent News Pakistan-WealthPk